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The City of Cape Town has proposed releasing seven hectares of well-located City-owned land on the corner of Kromboom Road and Seventh Avenue in Rondebosch East for mixed-used development.

The proposal, which will now open for public comment, includes an open market and subsidised housing, public open spaces, and retail space. The property will also include 800 residential units.

The Kromboom Road land, valued at R155 million, will include an ‘affordable housing component’ that allows the properties to revert back to City ownership if the land is not used for the intended purpose. To prepare for land release, the parcels will undergo a rezoning process to enable the envisioned yield of 800 residential units within a mixed-use development.

Mayor Geordin Hill-Lewis said: “These Rondebosch East erven are among the many exciting sites within our affordable housing land release priority portfolio”.

“In the first two years of this programme, we have already released sites with a yield of over 4 200 affordable housing units, including in Cape Town’s inner city and other well-located economic nodes.”

Mayco Member for Economic Growth, James Vos, said this is a landmark opportunity for the City to use its land portfolio to unlock socio-economic spin-offs.

“By developing these sites, we will provide much-needed residential and commercial space in areas close to vital services, industries and social infrastructure, thus enhancing the quality of life for our residents and supporting our city’s economic vitality.”

Mayco Member for Human Settlements Councillor Carl Pophaim stated that the City is prioritising mixed market development in an effort to create integrated communities and sustainable human settlements that offer not only housing opportunities but also commercial and social amenities.

The City’s affordable housing pipeline includes land parcels expected to deliver over 12,000 residential opportunities across the metro.

“Providing affordable housing in strategically located areas can significantly transform the livelihood of qualifying households who earn less than R22 000 a month.”

“Thousands of families are already tenanted at various developments around the metro, including Maitland Mews, Bothasig Gardens, Goodwood Station, and the Western Cape Government’s Conradie Park development in Pinelands.”

The City is also in discussions with the National Government to release several well-situated properties, including several military bases, and portions of the Parliamentary Village, which is estimated to be suitable for nearly 100,000 affordable housing units.

[source:iol]